SINGAPORE – The Housing Development Board (HDB) launched 8,940 flats for sale on Tuesday in its second Build-To-Order (BTO) and Sale of Balance Flats (SBF) exercise this year.
In a statement on Tuesday, the Board said the launch comprises over 3,000 BTO units and over 5,000 SBF units across 25 towns and estates. Upcoming executive condo include Treasure Crest and Northwave EC while existing ones include The Terrace EC, Brownstone EC, The Visionaire EC, Parc Life EC , Waterwoods EC, Signature at Yishun, Skypark Residences, Wandervale EC, The Vales EC, The Criterion EC, Bellewaters EC, Bellewoods EC.
This month’s BTO exercise includes a wide range of flats, including 2-room Flexi to three-generation (3Gen) flats so as to meet the diverse housing needs of applicants.
For the BTO exercise, HDB will offer a total of 3,770 BTO flats across four projects in the non-mature towns of Bukit Panjang and Sembawang and another two projects in the mature towns of Ang Mo Kio and Bedok.
A project in Bukit Merah, originally planned for launch this month, is undergoing further review. The project will be launched once the review is completed.
Eligible first-timer families can enjoy up to $80,000 of housing grants, which includes the Additional Central Provident Housing Grant (AHG) and the Special CPF Housing Grant (SHG). With these grants, buyers of 2-room flexi, 3-room, 4-room and 5-room flats could pay up to $4,000, $77,000, $180,000 and $303,000 respectively.
First-timers will also be prioritised for flat allocation. Married or courting couples who wish to live together with their parents can apply for a 3Gen flat in Ang Mo Kio Court or Senja Ridges. Other multi-generation families who wish to live close to each other in the same BTO project are advised to apply for flats in Ang Mo Kio Court, Bedok North Woods, EastCreek @ Canberra, Senja Heights and Senja Valley under the Multi-Generation Priority Scheme (MGPS).
For the SBF exercise, HDB will offer 5,170 balance flats in 11 non-mature towns and 14 mature towns and estates. They comprise 900 units of 2-room Flexi, 1,070 units of 3-room, 1,942 units of 4-room, 1,168 units of 5-room, 77 units of 3Gen and 13 units of executive flats.
Majority of flats offered under this exercise are reserved for first-timer families. Eligible first-timer singles may also apply for a 2-room Flexi flat in non-mature towns.
Similar to BTO flats, SBF flats are also priced with a subsidy that is lower than transacted prices of comparable resale flats in the vicinity, according to HDB.
The Tenants’ Priority Scheme (TPS) helps tenants of HDB rental flats to purchase their own homes. Previously, only first-timer families in public rental flats were eligible.
Starting from this month’s sales exercise, the TPS will be extended to second-timer families in public rental flats to give them greater priority when they apply for their own flat from HDB.
Under the TPS, 10 per cent of the 2-room Flexi and 3-room flat supply in the BTO or SBF exercise will be set aside for both first-timer and second-timer families, as well as those applying under the Selective En bloc Redevelopment Scheme (SERS), Relocation and Resettlement.
To qualify for the TPS, applicants must be tenants living in a public rental flat for a minimum of two years and meet the required household income ceiling.
To enjoy a higher chance of success in securing a flat, HDB advises flat buyers to apply for a BTO flat in non-mature towns. Although the SBF flats have a shorter waiting time to completion, the number of such units in each town is small and they are likely to attract high application rates, HDB explained.
Application for new flats launched in this month’s BTO and SBF exercise is now open and can be accessed on the HDBInfoWEB from today till next Tuesday (May 30). Flat buyers can apply for only flat type or category in one town under either the BTO or SBF exercise.
Flat applications are not processed on a first-come, first-served basis, said the HDB, adding that it will shortlist applicants using a computer ballot.
The total number of flats offered by HDB for the first half of 2016 comes up to 13,110.
The next BTO launch will be in August. HDB said it will offer about 4,810 BTO flats in Hougang, Sembawang, Tampines and Yishun.